Sunday, January 13, 2013

The 5 Money Personalities : Speaking the Same Love and Money Language Book Review

FTC disclaimer: I received this book in order to do a review. All opinions are my own. This post contains affiliate links.

In The Five Money Personalities: Speaking the Same Love and Money Language, Scott and Bethany Palmer -- also known as "The Money Couple" -- discuss the traits that each person may have that can affect the relationships of those around them. When about half of marriages end in divorce, and money is the number one issue that couples argue about, I believe this is a very important book for everyone to read. I’m single, but it helped me understand others who don’t have my money personality.

One of the things they discuss in this book is how to handle it if you have married someone with an opposite personality. Or what if your secondary money personality trait is opposite of your main one! That can actually be quite common, and leave that person fretting about decisions.

One of the neat things is they have resources on their website to compliment the book. It was no surprise to me when I took the quiz that my primary personality was “saver”. I remember as a child my grandparents giving me a jar full of coins for my birthday thinking I’d use them to play video games. Instead I took them to the bank and deposited the nearly $40 in change in my savings account. My secondary trait is “security seeker”. This is something that took a long conversation with someone recently when he was asking why debt bothered me. Don’t know how to start a conversation like that? It’s needed and this book has advice on how to broach the tough topics of how your spouse wastes money in your eyes.

Also included in the book is an appendix of how to survive live with someone with that other money personality (or even your own!) If you’re a spender you might need to reign yourself in come birthdays or Christmas, but the saver might need a little help spending their hard earned money on other people.

I highly recommend this book to everyone. It gives a lot of insight to why we handle money the way we do, and I believe if read and the principles in it were applied, it could save a lot of marriages.

Woo hoo a Saver/Security Seeker - you certainly are a consistant person and do NOT have the "Opposite Dynamic" :-). Here's to changing our worlds view that Finances and Money are different and here's to great Money Relationships. It really is the day to day money talks where we don't see eye to eye that is killing our marriages... we are so thankful to have developed a way to talk about money that can bring couples together. Our Life goal is to bring the divorce rate down 10% - thank you for all of your support. Make it Happen! Scott and Bethany "The Money Couple"

Bethany has been in the financial planning industry for two decades, primarily as the co-founder and President of Envoy Financial, which was selected as one of the 40 Best Christian Workplaces over the past several years. Bethany is a motivational speaker, popular guest on radio and TV, author, Certified Senior Advisor, and holds numerous licenses through Envoy Securities, LLC and Envoy Advisory, LLC.

Jennifer Wilson is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.”